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BlackRock assets climb above $6tn on record inflows

BlackRock assets climb above $6tn on record inflows

BlackRock has maintained it crown as the world’s largest asset manager in 2017, bringing in a record breaking $367 billion (£269 billion) net inflow.

Total assets under management now stand at $6.28 trillion, 22% up on the previous year.

The investment giant brought in $103 billion net inflows in the fourth quarter alone, which helped grow full year revenues by 12%.

‘BlackRock’s record 2017 results reflect the long-term investments we’ve consistently made in our business to better serve clients,' said Laurence Fink, chair and chief executive of BlackRock.

‘$367 billion of total net inflows for the year were the strongest flows in BlackRock’s history, and included $103 billion in the fourth quarter.

The bulk of new funds came via iShares, which brought in $245 billion in 2017.

'An increasingly diverse set of institutional and retail clients are using ETFs for asset allocation and alpha generation,' claimed Fink.  

'Investors are using both equity and fixed income ETFs in their portfolios for Core and precision exposures and as financial instruments.'

The company also saw a 15% increase in operating income for the year. Earnings per share raose from $22.60 to $30.23.

BlackRock  returned $2.8 billion to shareholders in 2017 and approved a 15% increase in the quarterly cash dividend to $2.88 per share.

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